Plumas Bancorp (NASDAQ:PLBC) Coverage Initiated at Stephens

Stephens initiated coverage on shares of Plumas Bancorp (NASDAQ:PLBC) in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $60.00 price target on the financial services provider’s stock.

Separately, Raymond James increased their price target on shares of Plumas Bancorp from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd.

Plumas Bancorp Price Performance

Shares of NASDAQ:PLBC opened at $50.10 on Wednesday. The company has a market capitalization of $295.59 million, a price-to-earnings ratio of 10.50 and a beta of 0.67. The firm’s 50 day simple moving average is $43.15 and its 200 day simple moving average is $39.55. Plumas Bancorp has a fifty-two week low of $32.50 and a fifty-two week high of $51.33.

Plumas Bancorp (NASDAQ:PLBC) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. The business had revenue of $24.10 million for the quarter, compared to the consensus estimate of $20.60 million. Plumas Bancorp had a net margin of 31.02% and a return on equity of 17.31%. Equities research analysts expect that Plumas Bancorp will post 4.66 earnings per share for the current year.

Plumas Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.08 annualized dividend and a yield of 2.16%. Plumas Bancorp’s dividend payout ratio (DPR) is currently 22.64%.

Insiders Place Their Bets

In other Plumas Bancorp news, EVP Bj North sold 2,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.55, for a total transaction of $106,204.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Plumas Bancorp

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Plumas Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 280,244 shares of the financial services provider’s stock worth $10,310,000 after acquiring an additional 1,862 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Plumas Bancorp by 5.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 170,526 shares of the financial services provider’s stock worth $6,954,000 after acquiring an additional 9,328 shares in the last quarter. De Lisle Partners LLP grew its stake in shares of Plumas Bancorp by 61.5% during the 3rd quarter. De Lisle Partners LLP now owns 149,779 shares of the financial services provider’s stock worth $6,068,000 after acquiring an additional 57,051 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Plumas Bancorp by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 123,399 shares of the financial services provider’s stock worth $5,033,000 after acquiring an additional 6,075 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Plumas Bancorp by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 79,150 shares of the financial services provider’s stock worth $2,847,000 after acquiring an additional 4,838 shares in the last quarter. 41.68% of the stock is owned by institutional investors.

Plumas Bancorp Company Profile

Plumas Bancorp operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses, and individuals in Northeastern California and Northwestern Nevada. The company accepts various deposits, such as checking, money market checking, business sweep, public funds sweep, savings, time deposit, and retirement accounts.